> To me this seems to lead to a complete exhaustion of the player, instead of giving a challange combined with relaxation and distraction.

Isn't the point of all exercise to get tired? To bring your body and mind near the edge to push the edge little bit?

> It seems that someone who spends the same time honing a real skill (e.g. programming) would come out way ahead!

Do you know any place where you could program competitively in short amounts of time (hour or even less)?